Monarch Aqua is a high-rise residential apartment project by Monarch Properties on Old Madras Road, KR Puram, Bangalore, Karnataka, India. The Project Site is accessible through the service lane of Old Madras Road, which runs parallel to the west boundary of the Property. The Project is located directly opposite to beautiful & well-maintained KR Puram Lake. Project is designed on 360 degree principle, is open on 3 sides and offers lake view to all the apartments. Monarch Aqua is pre-certified Gold Level by Indian Green Business Council (IGBC).

The Projects has a retail mall within its campus though it will have independent access for the outsiders. The Project also offers a fully equipped Business Centre with a lounge, meeting room and conference facility.

Monarch Aqua is funded by HDFC Limited and have been approved by all major banks such as HDFC Bank, ICICI Bank and SBI.

We have benchmarked Monarch Aqua against apartment projects on Old Madras Road (OMR). Even though the price of Aqua appears to be comparable compared to those of similar apartments in the same micro-market, the price works out to be “Expensive” as all other projects are at advanced stage of construction or ready to move-in. Also Monarch Group doesn’t have the same brand equity as compared to other builders in the vicinity.

Project Name

Developer Name

Location

Units Sizes

Price

Expected Completion

Monarch Aqua

Monarch Group

Opp KR Puram Lake, Old Madras Road

1110 - 2367

5200

Dec’19

Salarpuria Celesta

Salarpuria Sattva

Next to KR Puram Lake, Old Madras Road

1297 - 1873

5500

Completed

Pashmina Waterfront

Pashmina Developers

Sannatammanahalli, Old Madras Road

1636 - 4200

5500

June’17

Fortius Waterscape

Fortius Infra

Bharathi Nagar, Off Old Madras Road

1322 - 1764

5500

Completed

Salarpuria Magnificia

Salarpuria Sattva

Near Tim Factory, Old Madras Road, KR Puram

2266 - 4050

7500

Completed

Brigade Exotica

Brigade Group

Budigere Cross, Old Madras Road

2640 - 5540

5940

Sep’17

Bren Starlight

Bren Corporation

Avalahalli, Old Madras Road

915 - 1530

4190

Aug’18

Salarpuria East Crest

Salarpuria Sattva

Budigere Cross, Old Madras Road

598 - 1673

4990

Mar’19

*The quoted price is base price of the unit and does not include car parking, floor rise, club house, deposits & taxes.

Monarch Aqua is located just 1.5 Km from KR Puram – OMR junction on Old Madras Road, KR Puram, Bangalore. The Project is directly accessible from the service lane of Old Madras Road. Location of Aqua is very good as it is well-connected to Whitefield, Marathahalli Ring Road and MG Road. The immediate neighbourhood is a fast developing residential locality with a number of residential projects nearby from top builders such as Salarpuria Sattva, Brigade Group and Nitesh Estates. However, social Infrastructure is yet to be fully developed in the neighbourhood as people have to travel to KR Puram market for their shopping and medical requirement.

LOCATION HIGHLIGHTS

Immediate neighbourhood

A fast developing residential locality with a number of high-rise residential projects from top builders. Social Infrastructure is yet to be fully developed in the neighbourhood.

Landmarks nearby

The Project is directly opposite to beautiful KR Puram Lake.

Access Roads

Directly accessible from the service lane of Old Madras Road. KR Puram junction is just 1.5 Km away in the south direction.

Monarch Properties is a family owned enterprise and is promoted by Mr. Mohammed Salim Dawood. He has over 30 years of hospitality industry experience. The group has completed around 10 boutique residential & commercial projects and has two operating hotels in central business district of Bangalore.

We found “Average” Quality of Construction in all its completed projects. This is the largest group housing project being developed by Monarch Properties. The group doesn’t have experience in completing a project of this size as most of their previous projects had less than 30 units. However, Monarch Properties has tried to address their inexperience by hiring some of the top most project consultants for the project. For example – the contractor for this project is Al Fara, one of UAE’s leading integrated multi-disciplinary Construction & Industrial Groups, the architect is Space Matrix of Singapore and Project Management Consultant is Synergy.

The Project offers a wide range of amenities and sports facilities to its residents. Also every unit in the project has been designed to be open on 3 side and have lake view. Monarch Aqua is pre-certified Gold Level by Indian Green Business Council (IGBC), which means that the project is being constructed with the least possible ecological footprint.

Monarch Aqua has received all required NOCs from the concerned authorities and building plan sanction from BBMP. We did not find any regulatory or environmental related issues with the project.

Monarch Aqua is the first large size project being executed by Monarch Properties (Monarch Serenity was being developed by some other developer in JDA with Monarch Group & it was finished later by Monarch Properties). There are lot of inherent challenges in such projects – financial closure, sales and execution of project. Monarch Properties has hired some of the best project consultants for the project; however in case of poor sales due to weakness in the industry or economy the group will find it difficult to honor the construction schedule and delivery deadline.

Buyers are advised to conduct an independent legal and technical due-diligence of the project before investing in the project.

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